Friday, February 07, 2020 / 07:00PM / Kainosedge Consulting for AFEX Commodities Exchange / Header Image Credit: Born2Invest
The AFEX Commodities Index composite closed at 171.16points this week representing a down-tick in the overall market performance. The percentage point dropped by 2.86 week-to-date (WtD).
The past two weeks has seen cocoa and ginger prices trending upwards. This is as a result of sustained demand for the said commodities in the international market. In addition, we are out of the heavy harvest seasons for these crops supply has reduced drastically also causing the hike in price.
Soybeans and maize however saw a decline in prices settling at 3.83% and 2.42% decrease week-to-date while Sorghum and paddy rice remained steady maintaining their price levels.
The open market saw maize, soybeans and sorghum gaining in price while paddy rice declined closing at 6.09% simultaneously.